Vietnam sets 2023 export target of US$394 billion
HCMC – Vietnam has set a target of exporting goods worth US$393-394 billion in 2023, up by US$22 billion or 6% against last year, said a trade official. It would be challenging to reach this export target as the country’s export sector has been facing issues such as high yet unsustainable export
HCMC plans to expand four roads
HCMC – Four major roads in HCMC’s Go Vap District that are deteriorating, frequently flooded and overwhelmed by a huge traffic volume could be expanded at a total cost of nearly VND5.9 trillion. The government of Go Vap District proposed the road expansion plan to the HCMC People’s Committee at a
Antidumping duties on Chinese cold-rolled steel remain unchanged
HCMC – The Ministry of Industry and Trade has decided to keep in place the antidumping duties on cold-rolled steel coil and sheet imports from China. Vietnam would levy antidumping duties ranging from 4.43% to 25.22% on cold-rolled steel coil and sheet imports from China. The duties, imposed in
State budget revenue from import-export activities drops in January
HCMC – State budget revenue from imports and exports totaled over VND24.8 trillion in January 2023, down 42.3% year-on-year, showed data of the General Department of Vietnam Customs. The fall in January’s State budget revenue is attributed to the week-long Lunar New Year holiday that fell in
Bui Thanh Nhon returns to Novaland as board chairman
HCMC – Bui Thanh Nhon, founder of NovaGroup, has officially come back to the property developer Novaland as chairman and legal representative, according to a press release issued this afternoon, February 3. Nhon’s return to the top post is part of the restructuring project that NovaGroup,
Finance Ministry suggests taxing land and buildings separately
HCMC – The Ministry of Finance has proposed developing a new property tax law to separate the tax on land from that on buildings. Figures showed that tax collection from agriculture and non-agriculture land accounted for 0.24% of total state budget revenue and 0.03% of the country’s gross domestic
Vietnam weighs electricity price hikes in 2023
HCMC – Vietnam is considering hiking electricity tariffs this year as the last adjustment took place almost four years ago while input costs of power generation have soared since. Deputy Minister of Industry and Trade Do Thang Hai said at a press conference yesterday, February 2, that the hike
Vietnam emerges as biggest ASEAN wood products exporter to Australia
HCMC – Vietnam became the biggest ASEAN exporter of wooden products to Australia in November 2022, with US$205.6 million, up 26.4% over the same period last year, according to the Agency of Foreign Trade under the Ministry of Industry and Trade. Australia has prioritized the import of wood frame
Steel prices soar three consecutive times in January
HCMC – Domestic steelmakers late last month announced to hike prices, the third spike of the month, reported the local media Domestic steelmakers adjusted up steel prices by VND300,000 – VND700,000 a ton on January 30 to over VND16 million a ton, but the new level is still over VND2 million lower
State Treasury to auction VND400 trillion G-bonds this year
HCMC – The Vietnam State Treasury (VST) has announced a plan to auction VND400 trillion worth of government bonds on the Hanoi Stock Exchange this year. It will raise VND108 trillion from sales of G-bonds with different maturities in the first quarter, including five-year and seven-year bonds
Labor market recovers after Tet
HCMC – Vietnam’s post-Tet labor market is seen recovering in the first quarter of this year, with a surge in hiring demand in labor-intensive industries such as footwear, apparel, manufacturing and services. Job placement centers in HCMC and Hanoi are striving to match job supply with demand. The
Tourism revenue reaches VND46 trillion in January
HCMC – Vietnam’s tourism industry generated around VND46 trillion in revenue this January, with a surge in domestic and international tourist numbers, according to the Vietnam National Administration of Tourism. Vietnam attracted around 13 million domestic tourists in January, nearly 1.6 times
